Source: SKY_Sports
Kroenke ups Gunners stake
// A bit of a hack but it works// The article snippet is wrapped onto a second line, even when #article-sub is emptyif( $("div#article-sub").children().length == 0 ) {$("div#article-sub").remove();} Stan Kroenke has purchased a further 10 shares in Arsenal's holding company, at a cost of £85,000.[LNB] The American businessman, who is already the Gunners' largest individual shareholder, now owns a 28.9 per cent stake in the club.[LNB]He is edging towards the 29.9 per cent threshold which would force him to launch a formal takeover bid.[LNB]The Denver-based tycoon recently shelled out £765,000 to surpass Alisher Usmanov as Arsenal's top shareholder, but remains coy on his intentions for the future.[LNB]At the club's Annual General Meeting he opted against making any comment on takeover talk when the issue was raised, allowing chairman Peter Hill-Wood to intervene on his behalf.[LNB]Any public statement regarding a possible bid must be unambiguous, otherwise the individual or group would, under the Takeover Panel's rule 2.8, be prevented from making a formal move for six months.[LNB]CustodianKroenke's latest dealings have been confirmed to the Plus market, with the following statement released: "On 26th October 2009, Arsenal Holdings plc (the "Company") received notification that on 26th October 2009 Stan Kroenke, a director of the company, acquired 10 ordinary shares of £1.00 each in the company at a price of £8,500 per share.[LNB]"Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,967 ordinary shares in the company, representing 28.9% of the company's issued ordinary shares."[LNB]Despite Kroenke's continued acquisition of power at Emirates Stadium, Hill-Wood stated at last week's AGM that he did not envisage a takeover attempt being put in place any time soon.[LNB]"I don't think we are looking for a change in custodian," he said.[LNB]"I think you will find the club is in pretty good hands.[LNB]"I believe he [Stan] is happy to be a long-term shareholder in our club."[LNB]
